NeoGenomics (NASDAQ:NEO) Given New $19.00 Price Target at Needham & Company LLC

NeoGenomics (NASDAQ:NEO) had its target price lowered by Needham & Company LLC from $24.00 to $19.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

Several other research firms also recently commented on NEO. The Goldman Sachs Group lifted their target price on shares of NeoGenomics from $17.00 to $19.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. William Blair reiterated an outperform rating on shares of NeoGenomics in a research report on Wednesday, February 21st. Finally, Piper Sandler lifted their target price on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an overweight rating in a research report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $18.88.

NeoGenomics Trading Down 8.5 %

NEO opened at $13.92 on Tuesday. The company’s 50 day moving average is $15.04 and its 200-day moving average is $15.97. NeoGenomics has a 1-year low of $11.03 and a 1-year high of $21.22. The company has a current ratio of 6.20, a quick ratio of 5.95 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.78 billion, a P/E ratio of -19.89 and a beta of 1.10.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. The company had revenue of $155.55 million for the quarter, compared to the consensus estimate of $152.90 million. Equities research analysts predict that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total transaction of $38,701.52. Following the completion of the transaction, the general counsel now owns 34,866 shares in the company, valued at approximately $521,595.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Trading of NeoGenomics

Hedge funds have recently modified their holdings of the stock. Redwood Investments LLC bought a new stake in shares of NeoGenomics in the 4th quarter valued at $2,399,000. Aigen Investment Management LP bought a new stake in shares of NeoGenomics in the 3rd quarter valued at $163,000. Legato Capital Management LLC bought a new stake in shares of NeoGenomics in the 4th quarter valued at $401,000. Illinois Municipal Retirement Fund bought a new stake in shares of NeoGenomics in the 3rd quarter valued at $960,000. Finally, Brown Advisory Inc. increased its stake in shares of NeoGenomics by 25.0% in the 3rd quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock valued at $101,428,000 after acquiring an additional 1,651,717 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

About NeoGenomics

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.